The FPO which opened on December 3 was subscribed 4.77 times on the third day of offer today with institutional buyers lapping up the shares.
Shares of Power Grid Corporation jumps 2.5 percent intraday trade on Friday on strong response to its follow-on-public offer (FPO). The FPO which opened on December 3 was subscribed 4.77 times on the third day of offer with institutional buyers lapping up the shares. For the 78.70 crore shares offered for sale, the total number of bids received was 375.73 crore at close today.
The number of bids at cut off price was 16.88 crore, as per data available on bourses. The shares are being offered at a price band of Rs 85-90 apiece. The 17 percent stake sale in the state-run company is expected to garner up to Rs 7,083 crore. The company may garner close to Rs 5,717 crore, while the government will get around Rs 1,758 crore. The issue closed on December 5 for institutional investors and will close on December 6 for retail category of investors and employees. At 11:27 hrs Power Grid Corporation of India was quoting at Rs 97.60, up Rs 1.45, or 1.51 percent on the BSE.
Shares of Power Grid Corporation jumps 2.5 percent intraday trade on Friday on strong response to its follow-on-public offer (FPO). The FPO which opened on December 3 was subscribed 4.77 times on the third day of offer with institutional buyers lapping up the shares. For the 78.70 crore shares offered for sale, the total number of bids received was 375.73 crore at close today.
The number of bids at cut off price was 16.88 crore, as per data available on bourses. The shares are being offered at a price band of Rs 85-90 apiece. The 17 percent stake sale in the state-run company is expected to garner up to Rs 7,083 crore. The company may garner close to Rs 5,717 crore, while the government will get around Rs 1,758 crore. The issue closed on December 5 for institutional investors and will close on December 6 for retail category of investors and employees. At 11:27 hrs Power Grid Corporation of India was quoting at Rs 97.60, up Rs 1.45, or 1.51 percent on the BSE.
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